Cosmetic Packaging Market Forecasts to 2028 – Global Analysis By Material (Plastic, Metal, Glass and Other Materials), By Container Type (Jars, Bottles, Tubes and Other Containers), By Application (Hair care, Skin care, Nail care and Other Applications) and Geography
According to Stratistics MRC, the Global Cosmetic Packaging Market is accounted for $36.63 billion in 2022 and is expected to reach $54.36 billion by 2028 growing at a CAGR of 6.8% during the forecast period. Cosmetic packaging refers to cosmetic product packaging that also aids in brand positioning. Paper, plastic, metal, and glass are all used to make packaging materials. Tubes, bottles, jars, pumps, dispensers, and sachets are all types of cosmetic packaging. The growing importance of packaging for cosmetic brand differentiation is expected to drive cosmetic packaging market growth. Key manufacturers in the cosmetics and personal care industry are concentrating their efforts on marketing in order to increase brand visibility.
According to Cosmetics Europe, the European cosmetic market grew from US$ 89.30 in 2018 to US$ 90.66 in 2019. Additionally, an increase in demand for cosmetics due to the shifting grooming trends among men and women is expected to drive the cosmetic industry, which will provide lucrative opportunities for the cosmetic packaging market.
Demand for Hair Care & Skin Care Products
Cosmetic packaging is gaining market traction, with significant growth, owing primarily to an increase in demand from millennials in emerging markets such as India, Brazil, and South Africa. The global hair care and skin care industries are expanding at a faster annual rate. Some of the prominent products driving the global cosmetic packaging market are anti-aging products such as creams, shampoos, and hair conditioners. Rising female population awareness of anti-aging products is one of the primary factors driving the global cosmetic packaging market.
High cost of raw materials
Consolidated supplier bases and sourced raw materials at higher prices pose challenges for the company to package the product at a low cost while maintaining overall profitability, which are potential restraints hampering the global cosmetic packaging market overall growth.
Rise in e-commerce sales
The advancements in the e-commerce industry have significantly increased the demand for cosmetic products due to their ease of availability. Furthermore, e-commerce platforms provide a diverse selection of cosmetic products, rising cross-border sales and internet penetration in emerging markets are expected to boost cosmetic sales, which drives the cosmetic packaging market.
Rise in environmental pollution
Clean and healthy air is essential for humans and other living organisms. Custom printed cosmetic boxes are mostly made of non-recyclable materials, which contribute to increased environmental pollution, resulting in air and water pollution. The smoke from the manufacturing process pollutes the air with toxic fumes, and the remaining waste pollutes the water, rendering it unfit for drinking. Moreover, rising public awareness and government initiatives, excessive plastic use is expected to impede market growth.
The novel coronavirus has rapidly spread across various countries and regions, wreaking havoc on people's lives and the overall community. Because of the COVID-19 pandemic, many cosmetic packaging components have been halted. Individuals around the world initially reduced their spending on beauty products due to the economic slowdown. Furthermore, the number of COVID-19 cases is expected to fall in the near future as the COVID-19 vaccine hits the market Cosmetic retail revenue dropped by 32% in the early stages of the COVID-19 pandemic, according to Fashion and McKinsey & Company. The disruption of the value chain has had a significant impact on market growth; however, in order to survive with new restrictions, mitigate the impact of the global pandemic, and adapt to changing consumer preferences, companies are embracing new strategies.
The Skin care segment is expected to be the largest during the forecast period
The skin care segment is expected to be the largest during the forecast period because it accounts for the majority of the cosmetic packaging market. This dominant market position is due to the dramatic increase in demand for personal care and grooming products around the world. Additionally, with changes in lifestyle and purchasing habits, interest in health, grooming, and personal care items has increased (particularly among the young and male population), creating an opportunity for the skin care segment, which drives the cosmetic packaging market growth.
The Paper segment is expected to have the highest CAGR during the forecast period
During the forecast period, the paper segment is expected to have the highest CAGR. In the market, paper is widely used. Due to increased social awareness, manufacturers are shifting to eco-friendly and/or green packaging. Increasing eco-friendly packaging is also a significant factor in segment growth. Factors such as recyclability, maintainability, and the use of eco-friendly materials in the development of packaging items are fueling the segment's growth.
Region with largest share:
Asia-Pacific has the broadest market share in terms of both value and volume, and is expected to be the largest during the forecast period. The region's market has been driven by the introduction of new product varieties, growing consumer adoption as a result of increased awareness about various benefits such as anti-tanning solutions and increasing demand for cosmetic products in emerging economies.
Region with highest CAGR:
The Middle East and Africa region is expected to grow significantly and is expected to register the highest CAGR growth during the forecast period. Customers in the region consume a high volume of products, particularly luxury products, as a result of high incomes in developed Middle Eastern countries such as Saudi Arabia and the UAE, which are expected to drive demand for cosmetic products during the forecast period. Furthermore, rising demand for halal cosmetics and demand for the cosmetic industry leads to increased demand for the packaging industry, fueling market growth in this region.
Key players in the market
Some of the key players profiled in the Cosmetic Packaging Market include Silgan Holdings, Bemis Company Inc., DS Smith, Albea S.A., HCP Packaging, RPC Group Plc, Amcor plc, Graham Packaging Company, Libo Cosmetics, Carlyle Group, AptarGroup Inc. and AREMIX Packaging.
In April 2022, Amcor, a global leader in designing and manufacturing environment-friendly packaging solutions, announced that it will be the first company to acquire certified circular polyethylene substance using ExxonMobil's Exxtend technology for enhanced recycling
In March 2022, Berry Global Group collaborated with Koa to introduce 100 % recycled plastic body cleanser and body moisturizer bottles. Berry Global, as an industry leader in sustainability is committed to making a positive environmental effect through streamlined processes, continuously engaged partners, and optimized goods
In May 2022, Carlyle announced that firms linked with Baring Private Equity Asia will mutually collaborate to buy a 100 percent position in HCP Packaging a leading provider in the design, development, and manufacture of cosmetic packaging
• Other Materials
Container Types Covered:
• Blister & strip packs
• Aerosol cans
• Folding cartons
• Flexible plastics
• Other Container Types
• Hair Care
• Skin Care
• Nail Care
• Fragrances & Perfumes
• Other Applications
• North America
Rest of Europe
• Asia Pacific
Rest of Asia Pacific
• South America
Rest of South America
• Middle East & Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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